The April revenue total posted by Macau casinos was $2.2 billion (17.3 billion patacas), 9.5 percent less than it was during April a year ago. The total was the 23rd consecutive month of declines since the mainland economy began to falter and wealthy Chinese reacted to the ongoing anti-corruption campaign of the central government by staying closer to home.
These official figures from the Macau Gaming Inspection and Coordination Bureau were widely viewed as “good news” in that the April decline was less than what had been predicted by analysts.
Perhaps Macau’s gaming-oriented economy is beginning to stabilize, the analysts are saying.
But the April total underscores the fact that good news is a matter of perspective because the $2.2 billion won by casinos this April was almost half of the nearly $4 billion won by casinos in April 2014.
In the meantime Macau casinos including the Chinese subsidiaries of Las Vegas-based Wynn Resorts, MGM and Las Vegas Sands are in the midst of reworking their business plans to put more emphasis in their new resorts on non-gaming amenities and the so-called mass market as opposed top VIP casino customers.
Phil Hevener has been writing about the Nevada gaming business for more than 30 years. Email: .